Oil Up, Stays Under $70

Oil prices rose Wednesday, but remained below $70 a barrel after Hurricane Dean weakened as it swept into the Gulf of Mexico, reducing the threat of damage to oil installations.

U.S. light crude for October delivery climbed 35 cents to $69.92 a barrel in electronic trading. Prices tumbled 2 percent Tuesday to their lowest close since late June.

London Brent crude gained 20 cents to $68.89 a barrel.

Read the whole story: Reuters